FRIDAY, March 29, 2024
nationthailand

Chemical producer IVL lends a helping hand by churning out PET fibre for masks

Chemical producer IVL lends a helping hand by churning out PET fibre for masks

Indorama Ventures Plc (IVL), a global chemical producer, is increasing production of PET speciality fibre used to make facial masks to meet the high demand due to the coronavirus pandemic, Yash Lohia, chief recycling officer, said.

“We normally don’t produce this fibre. But because of the coronavirus, we have produced 30 tonnes so far and will produce another 150 tonnes over the next 30 days, enough for 54 million masks. You can make about 300,000 masks with one tonne,” he said during an exclusive interview to The Nation.


Countries around the world have been facing severe shortage of facial masks, as the coronavirus outbreak has been spreading leading to a surge in demand. In Thailand people cannot find facial masks at drug stores despite the government assuring adequate supplies.
Given the backdrop of the virus crisis, Lohia said that people were using more plastic for food and water packaging now due to virus concerns, in contrast to previous concerns of too much use of plastic causing global warming.
He said IVL's manufacturing facility in China has returned to normal after the coronavirus disruption early this year.
So far, the company has been able to run its global business smoothly even though governments around the world have imposed restrictions on the movement of people. 
Goods and cargo could still move freely, he said. IVL, with headquarters in Thailand, runs operations in Africa, Asia Pacific, Europe and Americas, employing 24,000 people worldwide.
IVL, the global leader in the manufacture of PET -- a key material to produce drinking water plastic bottles -- is optimistic about its business despite fears of a global recession as a result of the Covid-19 pandemic.
Executives do not need to travel much as each manufacturing unit in each country could operate by itself, he said referring to travel restrictions imposed as a result of the virus outbreak.
Known for its ambitious acquisition strategy, IVL this year is looking for merger and acquisition (M&A) in recycling businesses, he said, adding that his company is committed to the principle of a sustainable business by recycling as much as possible of plastic bottles.
As of March 23, IVL has recycled 50 billion PET bottles since 2011, said Lohia and claims the company could save three million barrels of crude oil and eliminate 1.65 million tonnes of carbon. IVL currently operates 12 recycling plants around the globe including Thailand.
“IVL wants to go further because we know PET is fully recyclable and uses less energy and water to produce than alternative beverage packaging,” he said. In five years, we aim to recycle 50 billion bottles a year .
To achieve this, IVL has committed up to $1.5 billion to expand its recycling business, he noted.
“We are also looking for M&A opportunities in this area,” he said.
Earlier this month, IVL formed a joint venture with Coca-Cola Beverage Philippines to establish PET value , a Greenfield integrated recycling plant with capacity to recycle 30,000 tonnes of post-consumer bottles or almost 2 billion pieces, and produce 16,000 tonnes of recycle PET per annum. 
IVL will hold a 70 per cent ownership in the joint venture and Coca-Cola will own the remaining 30 per cent stake. IVL is also listed in the Dow-Jones Emerging Market and World Sustainability Indices.

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